WebQuestion 9 of 36 Points: 10 out of 10 True or false. IfP < AVC, then the firm should not shut down. True False Correct. IfP > AVC, profit is being made. IfP < AVC, the firm should shut down. Question 10 of 36 Points: 10 out of 10 True or false. If a company is covering its variable costs, but not covering its total costs, it should continue ... WebVerified questions. Prepare a statement of owner’s equity for the year. Assume that the test scores from a college admissions test are normally distributed, with a mean of 450 and a standard deviation of 100. Suppose someone receives a score of 630.
Question 9 of 36 points 10 out of 10 true or false if - Course Hero
WebExpert Answer. Ans:-G Explanation:- for maximum profit firm should produce where marginal cost is equa …. View the full answer. Transcribed image text: Refer to the figure below. The diagram shows cost curves for a perfectly competitive firm. If the market price is P4, the profit-maximizing firm in the short run should produce output MC P5 ... WebJul 20, 2024 · In the short run a firm will produce zero output if _____ A) price is greater than short run average total cost B) price is between short run average total cost and short run average variable cost C) price is less than short run average variable cost D) profit is zero. 13 In a competitive industry each buyer and seller _____ phoenix gem show 2020
Intermediate Microeconomics - Wissink BRIEF ANSWERS TO …
WebIf px is greater than the minimum SRAVC but less than the minimum SRATC, the ¯rm receives negative pro¯ts, but still should produce. If px is less than the minimum SRAVC, the ¯rm cannot even cover its variable costs at any level of output, and should shut down. To see this, pro¯ts from producing x are: pxx ¡ SRVC¡FC: WebIf the price a perfectly competitive firm is facing in the market is P2, then the profit … WebJul 20, 2024 · In the short run a firm will produce zero output if _____ A) price is greater … phoenix gelcoat sprayer